Taxontips
No Result
View All Result
Tuesday, June 6, 2023
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Revised Minimum Recommended Scale of Fees for the Professional Assignments done by the Chartered Accountants

ADMIN by ADMIN
April 27, 2020
in Business & Other News
0
ICAI has announced a new MBA programme for Diploma in Management and Business Finance
599
SHARES
7.5k
VIEWS
image_pdfPDFimage_printPrint

The Committee for Members in Practice (CMP) of ICAI as a part of its commitment to strengthen the Practitioners has initiated the Revised Minimum Recommended Scale of Fees for the professional assignments done by the members of ICAI. The recommendation is about the fee to be charged as per the work performed for various professional assignments. The fee has been recommended separately for Class A, Class B and Class C cities.

In the recommendations there is different fees for all types of services offered by a practicing CA to its clients.

You can download the recommendation from HERE.

Looking at the recommended minimum scale of fees many might think that the fees charged by a CA is very lucrative and people are earning good in this field but that’s not the actual picture. Such fees cannot be charged by every CA and not from every client. For eg: Minimum fees for GST registration is recommended as Rs. 10,000 for Class C cities or Fees for filing of income tax return for individual/ HUF with income from Salary/Other Sources/Share of Profit is recommended as 4,000 and above for Class “C” cities. Now class “C” cities means the most third tier cities and same fees in class “A” cities is Rs. 20,000 and 8,000 respectively.

It’s good that ICAI is recommending to charge such fees which will compensate their expense and then people could give quality work. However other than audit and issuing various certificates there is no exclusivity in work of a CA and therefore people get their GST registration for even free from various websites or get their return’s filed at a very cheap rates from graduates.

The second reason for such a thing is even the senior professionals are not charging such fees and therefore it comes as a hindrance for young professional’s in practice to charge such a fees. Also, because of increasing number of professionals being passed the quality of profession is reducing and hence many people are doing practice as a side income and then they don’t charge proper fees which in turn a person doing full time quality practice has to suffer as most work is procedural and since assessment is also done of very few cases, hence people are also not bothering whether they are getting quality work or not as long as they are getting it for cheap.

Therefore, it’s a request to the senior professionals to start charging a decent fees and start giving proper consultation and also it is a humble request to ICAI to give more quality results so that people who come in practice are giving quality service and are not doing it as part-time and righteousness of the profession is maintained.

 

This article is just for information purpose and are the personal views of the author, it is always advisable to hire a professional for practical execution. Also subscribe to our newsletter for latest weekly updates.

image_pdfPDFimage_printPrint
Previous Post

CBDT denies news of report prepared by 50 IRS to combat the effect of Covid – 19 | Suggest 40% tax on super rich | Fact check

Next Post

Clause 30C and 44 of Tax Audit Report kept in abeyance for another year.

Related Posts

RBI to end it’s Fiscal Year 2019-20 on 30.06.2020 | Fact check | Change in Accounting year for 2019-20
Business & Other News

Do you need to panic if you have Rs. 2000 note with you?

May 22, 2023
RBI to end it’s Fiscal Year 2019-20 on 30.06.2020 | Fact check | Change in Accounting year for 2019-20
Business & Other News

Rs. 2000 note removed from Circulation Will continue as Legal Tender

May 19, 2023
ICAI has announced a new MBA programme for Diploma in Management and Business Finance
Business & Other News

Deferment of second phase of Peer Review Mandate for CA Firms

May 15, 2023
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately
Business & Other News

Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA

May 12, 2023
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately
Business & Other News

CA, CS and CMA now under PMLA. KYC of clients required

May 10, 2023
Digital signature or Aadhar based e-sign mandatory for IEC after 13.07.2020
Business & Other News

Foreign Trade Policy 2023 announced by ministry of Commerce and Industry

April 20, 2023
Next Post
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-

Clause 30C and 44 of Tax Audit Report kept in abeyance for another year.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
  • ₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
  • Due date for filing SFT extended from 31.05.2023 for FY 2022-23?
  • E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
  • Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]

Recent Comments

  • Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA - Taxontips on CA, CS and CMA now under PMLA. KYC of clients required
  • ITR 4 is now available on e-filing website for FY 2022-23 i.e. AY 2023-24 | File ITR with experts on Taxontips – Taxontips on Businessman with turnover below 1 crore and having profit below 8% need to compulsorily get books of accounts audited: Let’s find out
  • Can a person earning income from speculative business transaction file return u/s 44AD of Income tax act - Taxontips on How to calculate turnover in case of intra day and future and option trading for Income Tax purpose?
  • Extension of last date for updation of Member’s Profile with GSTIN at Self Service Portal – Till 23rd April, 2023 - Taxontips on Updation of Member’s Profile at Self Service Portal with GSTIN to get GST credit till 15.04.2023
  • Akshay Kadam on New error faced in the new Income tax e-filing portal related to log-in of an assessee | E-filing 2.0

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6456 shares
    Share 2582 Tweet 1614
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6344 shares
    Share 2538 Tweet 1586
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5679 shares
    Share 2272 Tweet 1420
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4771 shares
    Share 1908 Tweet 1193
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    3991 shares
    Share 1596 Tweet 998

Recent Notification

Last opportunity to file Income tax return for F.Y. 2018-19 | Belated return u/s 139(4) of the Income tax Act

Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act

June 5, 2023
GST registration

₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth

June 2, 2023

RSS Taxontips

  • Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
  • ₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
  • Due date for filing SFT extended from 31.05.2023 for FY 2022-23?
  • E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
  • Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]
  • ANNUAL FEE CIRCULAR 2023-24 by ICAI for it’s members
  • Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]
  • Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act
  • GUIDELINES FOR SPECIAL ALL-INDIA DRIVE UNDER GST
  • Government issues guidelines to calculate net winning for section 194BA of the Act [Read circular]

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!